Japan: Oilseeds and Products Annual
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Japan's vegetable oil and protein feed markets are mature and stable. While surging commodity prices and the shipping crisis impacted Japan's oilseed and product imports in the past, the situation has normalized. With imported oils like palm and olive oil becoming expensive, domestically crushed soybean and canola oils have gained a competitive price advantage. Consequently, crushers are expected to marginally increase crush volumes in MY 2024/25 and 2025/26, favoring soybean crush over rapeseed due to better crush margins. The production of domestically produced soybean meal and rapeseed meal is anticipated to rise, reducing Japan’s imports of soybean meal. As of spring 2025, Japanese traders perceive uncertainty in global trade but remain willing to procure oilseeds and products opportunistically. Hokkaido’s favorable weather in MY 2024/25 resulted in excellent food-grade soybean production; however, the food soybean market remains flat due to inflationary pressures.
